Resolution - #80-51 - 06/01/1980

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Lender, which Bond Resolution, Loan Agreement, and Pledge Agreement, Mortgage and Assignment and amendments thereof reference is hereby made for a description and limitation of the revenues and funds pledged and appropriated to the payment of this Bond, the nature and extent of the security thereby created, the rights of the Holder of this Bond, the rights, duties and immunities of the Lender, and the rights, immunities and obligations of the City hereunder. Certified copies of the Bond Resolution and executed counterparts of the Loan Agreement, the Pledge Agreement, the Mortgage and the Assignment are on file at the office of the City Clerk. This Bond shall be subject to optional prepayment and redemption in whole or in part on any installment payment date commencing in the sixth "prepayment year," at the option of the City, at 'the request of the Borrower, at a prepayment price equal to the principal amount so to be prepaid plus accrued interest thereon to the prepa~nent date, and a premium, expressed as a percentage of the principal amount hereof to be prepaid, as follows (a "prepayment year" consisting of any twelve-month period commencing with the first day of the first month following the Completion Date): Prepa...~ment Date Occurring mn the sixth prepalm~ent year Occurring In 'the seventh prepayment year Occurring mn 'the eighth prepayment year Occurring mn the ninth prepayment year Occurrmng mn the tenth prepayment year Occurrmng mn the eleventh prepayment year Occurrmng mn the twelfth prepayment year Occurrmng mn the thirteenth prepa~aent year ' Occurrmng in the fourteenth prepayment year and thereafter Prep_~_yment Premium 5.oo% 4.50% 4.00% 3.5o% 3.oo% 2.5o% 2.oo% 1.50% 1.oo% Notice of any such prepayment or redemption shall be given to the owner or registered assigns of this Bond by certified or registered, mail, addressed to it at its registered address, and shall be published, if required by law, in a financial journal circulated in the English language in the City of Minneapolis or St. Paul, Minnesota, at least once, not less than thirty (30) days before the date so fixed for prepalanent or redemption. At the date fixed for prcpayment or redemption, funds shall be paid to 'the owner hereof at its registered address, sufficient to pay this Bond, or the principal amount hereof to be prepaid, and any prepayment premium. Upon the happening of the above conditions, this Bond_. thus called shall not bear interest after the date specified for prepa!~aent or redemption. This Bond is transferable, as provided in the Bond Resolution, only upon the Bond register of the City Clerk, as Bond registrar, by the owner hereof in person or by his duly authorized attorney, as provided in the Bond Resolution. -3-